4 Comments

👊🏻"This means ruthlessly prioritizing to get to break-even.” What do I mean by that? Well, it means cutting back until the business reaches a point when the income is equal to the expenditure.

Also communicate transparently and briskly with shareholders. There is nothing worse than a bankruptcy or down round letter coming from a lawyer vs. founder/CEO.

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This is exactly what we need. A dose of realism.

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Great piece. I really hope 2024 is not worse, we need some wins!

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Having been in the business world for almost 40 years I can only vouch for the fact that all of these are great advice, and interestingly enough they all should be true at all times. Setting priorities, running a lean organisation, etc, should be true for all companies, always.

What is great right now is that a bunch of companies run by incompetent managers making unrealistic claims are going out of business. Finally, the time may come when VCs stop financing science fiction. Everyone is going to be better off if we stop wasting money on moonshots that never had a chance to work in the first place and if the WeWork and FTX type founders exit the market.

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